Except the 4890 was meant to compete with the 275, not the 285.
5870 vs 480 also isn't a good comparison, either. If the 6970 is between 10% and 20% faster than the 480 (assume 15% average) then it's a lot closer to the 580 than the 5870 was to the 480.
I... don't think there's any valid comparison for single GPU's.
Not in recent years, anyway. ATI has never been that close to Nvidia.
I sort of see your point, but I don't agree entirely. The 5870 was and is pretty close to the GTX480, especially now that it's gotten quite a boost in games where it used to lag behind( Metro2033 for instance). It can't be more than 5-10% behind on average now( at 19*12 at least). I might have been wrong about the 4890 and 285, but I seem to remember those being rather close(15%'ish?) in performance too?
Do note, I'm not actually considering price or which card it's targeted to compete with at this point, just straight out fastest GPU performance. And I do realize that's not really what AMD/ATI have been aiming for the last few years, but it would be kind of cool to see them finally rise to take the throne of even the single-GPU market with what appears to be a really ingenious design philosophy. Which is why I'd be somewhat disappointed if this really just turned out like the last round.